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Under the current law, 40% of beneficiaries end up paying taxes on their benefits each year.
I’ve written several columns about taxes over the years. I decided to write this one after seeing a piece about Minnesota Congresswoman Annie Craig’s proposed legislation - the “You Earned It, You Keep It Act.”
A proposed Congressional bill aims to relieve the tax burden on Social Security beneficiaries while also bolstering a key trust fund's finances so it remains fully funded for a longer period of time....
It would be fully paid for by raising the cap for individuals earning more than $250,000 annually, said Rep. Yadira Caraveo.
(Washington, D.C.) -- A Minnesota lawmaker is asking Congress to stop pulling federal taxes from Social Security benefits. Congresswoman Angie Craig filed the You Earned It, You Keep It Act yesterday. The bill would not only stop federal taxes on Social Security benefits, it would raise the cap on the program's payroll tax. Craig says higher-earning taxpayers will then